Weis Markets (NYSE:WMK) Posts Earnings Results

Weis Markets (NYSE:WMK) announced its earnings results on Tuesday. The company reported $0.90 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $1.28 billion during the quarter. Weis Markets had a net margin of 1.99% and a return on equity of 7.40%.

Weis Markets Trading Down 1.8%

Weis Markets stock traded down $1.35 during mid-day trading on Tuesday, hitting $74.42. The stock had a trading volume of 148,143 shares, compared to its average volume of 158,458. The stock has a 50-day simple moving average of $73.20 and a two-hundred day simple moving average of $72.64. The stock has a market capitalization of $1.84 billion, a PE ratio of 18.47 and a beta of 0.40. Weis Markets has a 12 month low of $59.99 and a 12 month high of $83.74.

Weis Markets Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be issued a $0.34 dividend. The ex-dividend date is Monday, November 9th. This represents a $1.36 annualized dividend and a yield of 1.8%. Weis Markets’s dividend payout ratio (DPR) is currently 33.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Weis Markets by 45.9% in the 2nd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $36,000 after acquiring an additional 145 shares in the last quarter. Parallel Advisors LLC raised its stake in Weis Markets by 5.3% in the third quarter. Parallel Advisors LLC now owns 3,645 shares of the company’s stock valued at $266,000 after buying an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Weis Markets by 43.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 859 shares of the company’s stock worth $63,000 after buying an additional 260 shares during the period. Rockefeller Capital Management L.P. increased its position in Weis Markets by 78.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 772 shares of the company’s stock worth $49,000 after buying an additional 340 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Weis Markets by 788.6% in the second quarter. Versant Capital Management Inc now owns 391 shares of the company’s stock valued at $31,000 after buying an additional 347 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Weis Markets from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Weis Markets presently has a consensus rating of “Buy”.

About Weis Markets

Weis Markets, Inc is a regional food retailer that operates supermarkets under the Weis Markets banner. The company offers a broad selection of grocery products, including fresh produce, meat and seafood, dairy items, bakery and deli goods, frozen foods, beverages, household products, and health and beauty items. Many locations also provide pharmacy services, prepared foods, fuel, and online grocery ordering or pickup options.

Founded in 1912 by brothers Harry and Sigmund Weis in Sunbury, Pennsylvania, the company has grown into a Mid-Atlantic supermarket chain.